Hawaiian Electric Industries (NYSE:HE – Get Valuation) A price target of $36.00 was given by equity researchers at Evercore ISI in a note issued to investors on Thursday, Stock Target Advisor reports. Evercore ISI’s price target would suggest a potential downside of 10.60% from the stock’s current price.
Other analysts have also issued reports on the stock. Guggenheim lowered its target price on shares of Hawaiian Electric Industries from $41.00 to $36.00 in a research note on Monday, October 24. StockNews.com reported on Hawaiian Electric Industries shares in a research report on Wednesday, October 12. They gave the company a “hold” rating. Bank of America has downgraded shares of Hawaiian Electric Industries from a “neutral” rating to an “underperform” rating and set a price target of $43.00 for the company. in a research report on Thursday, August 18. Finally, Wells Fargo & Company lowered its target price on shares of Hawaiian Electric Industries from $42.00 to $36.00 and ranked the company as “underweight” in a research report on Wednesday, October 19.
Price history of Hawaiian Electric Industries
HE shares rose $0.24 on Thursday to hit $40.27. 332,493 shares of the company were traded compared to an average volume of 356,047. Hawaiian Electric Industries has a 1-year low of $33.18 and a 1-year high of $44.72. The stock has a market cap of $4.41 billion, a price-to-earnings ratio of 18.47, a price-to-earnings ratio of 7.31 and a beta of 0.40. The stock has a 50-day moving average of $37.03 and a 200-day moving average of $39.72. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt to equity ratio of 1.12.
Institutional investors are banking on Hawaiian Electric Industries
A number of hedge funds and other institutional investors have recently added to or reduced their holdings in the stock. Thrivent Financial for Lutherans increased its position in Hawaiian Electric Industries by 0.9% in the third quarter. Thrivent Financial for Lutherans now owns 28,973 shares of the utility worth $1,004,000 after purchasing an additional 264 shares last quarter. International Assets Investment Management LLC increased its stake in Hawaiian Electric Industries by 3.6% during the third quarter. International Assets Investment Management LLC now owns 7,910 shares of the utility company’s stock valued at $274,000 after purchasing an additional 273 shares last quarter. The New York State Common Retirement Fund increased its stake in Hawaiian Electric Industries by 0.3% in the third quarter. The New York State Common Retirement Fund now owns 100,888 shares of the utility worth $3,497,000 after buying another 274 shares last quarter. Meeder Asset Management Inc. increased its stake in Hawaiian Electric Industries by 42.4% in the second quarter. Meeder Asset Management Inc. now owns 968 shares of the $40,000 utility company after buying another 288 shares last quarter. Finally, InterOcean Capital Group LLC increased its stake in Hawaiian Electric Industries by 4.8% during the second quarter. InterOcean Capital Group LLC now owns 6,494 shares of the utility company’s stock valued at $266,000 after purchasing an additional 300 shares last quarter. Hedge funds and other institutional investors own 53.30% of the company’s shares.
Company Profile of Hawaiian Electric Industries
Hawaiian Electric Industries, Inc, along with its subsidiaries in the State of Hawaii, is engaged in electric utility, banking and renewable/sustainable infrastructure investment. It operates through three segments: Power Supply, Bank and Other. The Electric Utility segment is engaged in the production, purchase, transmission, distribution and sale of electricity on the islands of Oahu, Hawaii, Maui, Lanai and Molokai.
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